House Sponsors: SAVIANO-CAPPARELLI-BURKE-MCAULIFFE-BUGIELSKI. Short description: PEN CD-CHGO POL-EARLY RETMT Synopsis of Bill as introduced: Amends the Chicago Police Article of the Pension Code to provide early retirement incentives. Grants up to 5 years of creditable service and up to 5 years of age enhancement. Requires employee contributions at half the regular rate. Requires the City to pay the resulting unfunded accrued liability to the Fund over 7 years, with interest. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE Estimated increase in accrued liabilities at 50% utilization is $202.2 M, and at 100% utilization is $454.1 M. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status